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Bangkok Office – Market View Q1 2009

By on Jun 12, 2009 in Office, Research

As of Q1 2009, the total stock of Bangkok office space increased to 7,864,435 m2. There were three newly completed office projects during this quarter with a combined area of 67,300 m2. Asia Centre and Sala at Sathorn are located in the CBD, while Central Chaengwattana is located in the Non-CBD area.

226,880 m2 of office space is expected to be completed between 2009-2011 and is already under construction. The biggest project among future office developments is the Energy Complex which will open in 2009. The project has an estimated office space of 119,000 m2.

The vacancy rate was 14.2% up from 13.5% at the end of 2008.

Overall office rents fell by approximately 4%. Average grade A rents stood at Baht 710 per square metres per month, a drop of 4.4% on Q4 2008.

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